NVIDIA CEO cashes out $700 million as demand for artificial intelligence soars, doubling stock price this year
NVIDIA CEO Jensen Huang sold over $700 million worth of stocks between June 13 and September 12, completing a 6 million share selling plan set under SEC 10b5-1 rules ahead of schedule. Despite the sales, NVIDIA's stock price rose due to increased demand, closing up nearly 4% on Tuesday to $120.87, doubling since the beginning of the year. Huang still holds 75.4 million shares of NVIDIA
FX168 Financial News (North America) - Jensen Huang initiated a trading plan in mid-March this year to sell up to 6 million shares of NVIDIA by the end of the first quarter of 2025.
However, according to the latest regulatory filings, Huang reached this goal months ahead between June 13 and September 12, cashing out over $700 million.
(Source: SEC)
Although this sale was made under a 10b5-1 plan, which allows insiders to sell shares based on a pre-determined structure, NVIDIA's stock price seems to have been boosted by Tuesday's update.
Tuesday's regulatory filings show that NVIDIA (NVDA) CEO Jensen Huang completed a stock sale plan worth over $700 million.
Huang had previously announced his intention to sell up to 6 million shares of NVIDIA by the first quarter of 2025 under the U.S. Securities and Exchange Commission's (SEC) 10b5-1 rule, which allows insiders to establish trading plans to sell shares. According to a SEC filing, he reached this limit months before the plan's expiration, selling 120,000 shares worth nearly $14.3 million.
According to another filing, the CEO still directly holds 75.4 million shares of NVIDIA and holds an additional 786 million shares through various trusts and partnership relationships.
NVIDIA's stock price closed up nearly 4% at $120.87 on Tuesday. Since the beginning of this year, their value has more than doubled due to the surge in demand for the company's AI chips
